a lot of people are expecting the market to rally post fomc statement.
hardly anyone is expecting it to collapse through the lows.
hardly anyone is expecting it to collapse through the lows.
ES Journal Archive (2006 - 2008)
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gdp will cause a fall in the market. So we are in range pre fomc to run some stops below.
edit 1508.00
edit 1508.00
a change to a more hawkish fomc statement could roil the markets.
edit: FOMC needs room to move, the markets if they stay in speculative fervor zones, the fomc wont be able to move. So in a way the FOMC can jawbone them down.
edit: FOMC needs room to move, the markets if they stay in speculative fervor zones, the fomc wont be able to move. So in a way the FOMC can jawbone them down.
Since many of the traders who usually post seem to be on vacation, I decided to post the following 60min RTH (close=4:15pm) with a fib projection from yesterday.
I run multiple price projections on another chart (that would just look too cluttered to put up), and the fib clusters of resistances for today are 1525.50-1528.00 and 1533.00-1536.75
GAP remains open above current prices.
1533-1535 area
Support looks like 1516-1511
Unfortunately, sometimes FOMC days can be pretty mild until the announcement.
I run multiple price projections on another chart (that would just look too cluttered to put up), and the fib clusters of resistances for today are 1525.50-1528.00 and 1533.00-1536.75
GAP remains open above current prices.
1533-1535 area
Support looks like 1516-1511
Unfortunately, sometimes FOMC days can be pretty mild until the announcement.
market is extremely positive today. use the fomc statement for entries below.
some institutional upgrades.
1508 stop run on fomc statement.
swing traders looking for gains on spx 1540.
price is showing the path of least resistance is upside.
utilities average above 500.
apple iphone euphoria.
10 year yield at 5.08 (1508 ESU stop run)
some institutional upgrades.
1508 stop run on fomc statement.
swing traders looking for gains on spx 1540.
price is showing the path of least resistance is upside.
utilities average above 500.
apple iphone euphoria.
10 year yield at 5.08 (1508 ESU stop run)
if current sentiment holds, there will be no sellers on fomc statement. Next level is 1548 on ESU.
only stop runs for downside attempt but no conviction.
only stop runs for downside attempt but no conviction.
sentiment structure is holding pretty well.
americans will be in a holiday patriotic mode.. next week. front running buying.
americans will be in a holiday patriotic mode.. next week. front running buying.
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